Four Corners Slow Money Makes First Micro-Loan for Agriculture
The new nonprofit organization Four Corners Slow Money has made its first $3,000 loan to support the agricultural economy. Through a peer-to-peer lending system, Four Corners Slow Money offers zero-interest micro-loans up to $3,000 to farmers, growers, and food enterprises in the Four Corners region. Loans are repaid over the course of a year, with the payments going into a revolving loan fund. The first loan, to Adobe House Farm in Durango, Colorado, will help fund construction of a climate-controlled greenhouse to grow tomatoes. The group plans to approve five more loans in February, with applications due January 30, 2020.